![]() ![]() They sense and utilize external opportunities and trends - not only market oriented one, but also societal, human and cultural one. “Entrepreneurs in the arts utilize creative and innovative artistic ideas and transform them into sustainable business models by seeking and organizing resources beyond their disposal and implementing diverse innovative approaches while undertaking certain amount of risk (not only financial but related to reputation). As every enterprise grows with the time, the entrepreneur becomes leader and manager at a certain stage of organizational growth and this is why the management skills and competences are very important. I will split the schools of thoughts into several groups:Įntrepreneur: Risk-taker: Richard Cantillon (1680-1734) was the first author who defined entrepreneurs as those who are ready to risk in order to receive future profit.Įntrepreneur: Key Factor for Economic Development: Jean-Baptiste Say (1767-1832) described entrepreneurs as those who transfer economic resources in areas with higher productivity and organize production process by combining diverse factors of production with information and experience.Įntrepreneur: Innovator and Change-maker: Joseph Shumpeter (1883-1950) defined the entrepreneur as a leader and contributor to the process of “creative destruction”.Įntrepreneur: Shaped by Personality Traits and Characteristics: high need for achievement, motivation to excel, strong self-confidence, being optimistic, innovative, creative, imaginative, restless, and proactive.Įntrepreneur: Shaped by the External Environment: External factors include family background, employment history, education, social networks, culture, prior management experience.Įntrepreneur: Leader and Manager. There is no agreed definition of this complex phenomenon. ![]() The etymology of the word entrepreneurship derives from French and German language, and means undertaking. Numerous studies and theories have been developed throughout the centuries in attempt to find out what entrepreneurship is about and who the entrepreneurs are. Entrepreneurial theories: a brief overview ![]()
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